Solid results despite system conversion dip
- Record cash flow +19% / Dividend proposal +12%
- Outlook 2025/26E: New earnings records expected

Wessling, February 11, 2025 – Despite a dip in Q4/2024 due to the double system conversion (internal + Autodesk), the CAD/CAM/BIM specialist Mensch und Maschine Software SE (MuM - ISIN DE0006580806) achieved almost consistently higher results for 2024 than in 2023, and MuM can increase the dividend by +12% thanks to a new record cash flow.

According to the preliminary figures now available, sales in 2024 came in at around EUR 325 mln (PY: 322.31), just above the previous year. Gross profit climbed to approx. EUR 174.5 mln (PY: 168.53 / +3.5%), with a gross margin jump to around 70% in Q4 (Q1-Q3: 50.0%) after Autodesk's switch from resale to commission.

Operating profit EBIT at about EUR 46.4 mln (PY: 46.83) was just below last year, with c. EUR 30.6 million / +7.7% from Software and c. EUR 15.8 mln / -14% from the Digitization segment, where Q4 was still profitable, but far below PY due to the one-off effects of the system changes.

Net profit after minority shares, however, rose to approx. EUR 29.9 mln (PY: 28.87 / +3.6%) or 177 cents (PY: 172) per share. The absolute 2024 highlight was the operating cash flow with a new record value of approx. EUR 60 mln / +19% or 355 Cents/share (PY: 302).

The M+M management will submit a dividend proposal of 185 cents (PY: 165 / +12%) to the general meeting on May 8, 2025.
Overall, CFO Markus Pech and Chairman Adi Drotleff look back positively on the challenging year 2024: “MuM has laid a very good foundation for the future with the high investments in internal systems and the new Autodesk model as well as development costs of around EUR 26 mln. We are thus confident that our sustainable growth can continue in the years to come."

For 2025, they expect the retarding effects from the system changes to fade out, with an anticipated growth of +9-18% in EBIT or EPS as well as a dividend increase of +20-30 cents. For 2026, stronger EBIT/EPS growth of +13-25% is expected and +25-40 cents more in dividends are planned.

Remark: The final audited 2024 figures, which shall be disclosed on March 13, 2025, may differ from the preliminary figures.